Rejection of the leasing company's claim on the leased asset

Facts

This case concerns a financial leasing contract for a Dainichi BX 45 CNC machine between Denaro Hypo Leasing AG (the leasing company) and Microdia S.A. (the lessee). The machine was initially sold by Hoefliger AG to Microdia S.A. before the conclusion of the leasing contract.

When Microdia S.A. went bankrupt and the machine was inventoried as part of the bankruptcy assets, Denaro Hypo Leasing AG claimed ownership of the machine. However, the bankruptcy administration contested this claim.

Considerations

The Federal Tribunal rejected Denaro Hypo Leasing AG's claim. Although the leasing company had paid the price of the machine to the supplier Hoefliger AG, it never became the owner. The machine was delivered directly to Microdia S.A., which became the owner under the initial sales contract.

The Federal Tribunal considered that the solution adopted by the parties was close to a "lease-back" or "sale and leaseback", which is impracticable under Swiss law due to the…